The impact of cross-border mergers on investment

The impact of cross-border mergers on investment

This article examines the empirical link between mergers and investment using a panel of 61 developed and developing countries between 1987 and 2001. The results indicate that, on average, a rise in cross-border merger and acquisition activity tends to reduce investment. However, in high-income coun...

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Veröffentlicht in:Applied economics letters 2008-01, Vol.15 (12), p.981-984
1. Verfasser: Moore, Winston
Format: Artikel
Sprache:eng
Schlagworte:
Acquisitions
Acquisitions & mergers
Business investment
Developing countries
Economic analysis
Economic impact
Foreign enterprises
International market
Investment analysis
Investments
LDCs
Mergers
Securities markets
Studies
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Beschreibung
Zusammenfassung:This article examines the empirical link between mergers and investment using a panel of 61 developed and developing countries between 1987 and 2001. The results indicate that, on average, a rise in cross-border merger and acquisition activity tends to reduce investment. However, in high-income countries, the number of mergers had a positive impact on investment. This finding could be due to stock market inefficiencies in these low- to middle-income countries.
ISSN:1350-4851
1466-4291
DOI:10.1080/13504850600972212